Re: Substantial Shareholding

5 July 2007

                         Copper Resources Corporation                          

                         Re: Substantial Shareholding                          

The Board of Copper Resources Corporation ("CRC" or "the Company") notes the
announcement by Metorex Limited ("Metorex") of its acquisition of 29,247,126 of
the Company's common shares from the Forrest Group.

In particular, the Board notes that Metorex intends to make an offer to the
other shareholders of the Company.

The Board further notes that the acquisition of the shares held by the Forrest
Group is subject to a number of pre-conditions, including satisfactory due
diligence by Metorex.

In view of the interest of three Directors of the Company who are directors of
companies within the Forrest Group, a committee comprising Sir Samuel Esson
Jonah and Mitchell Alland (the "Independent Committee"), which was set up in
February 2007, will review the strategic options for the Company, including the
consideration of the possible offer by Metorex.

At the present time, the Independent Committee has had no discussions with
Metorex about the terms of the offer referred to above and therefore is not
currently in a position to advise the Company's shareholders on the action that
they should take. Once further details of the progress of Metorex's transaction
and the possible offer are available, a further announcement will be made.

The total number of the Company's shares currently in issue is 70,694,191.

As announced on 26 February 2007, the Company agreed to issue 5,025,873 new
common shares to the Forrest Group to settle certain debt obligations. These
shares have not yet been issued, but are included in the above mentioned number
of shares being sold by the Forrest Group.

Although incorporated in the British Virgin Islands, the Company has adopted
certain provisions of the City Code on Takeovers and Mergers within its
Articles of Association, as was disclosed in the Company's Admission Document.

Enquiries:


   Copper Resources    Nabarro Wells &     Fox-Davies             GTH          
     Corporation         Co. Limited    Capital Limited                        
                                                             Communications    
                                                                               
   Mitchell Alland        Hugh Oram       Richard Hail         Toby Hall       
                                                                               
    Executive Vice                                                             
       Chairman                                                                
                                                                               
       +44 (0)             +44 (0)      [phone]         +44 (0)        
                                              5200                             
     78 7569 5563        20 7710 7400                         20 7153 8035